Standard&Poor's Ratings Services assigned its 'AA+' long-term rating to Elko New Market, Minn.'s series 2015A general obligation (GO) bonds and series 2015B GO refunding bonds. At the same time, we affirmed our 'AA+' rating on the city's series 2013A GO bonds. The outlook is stable. Each of the rated bonds is secured by the city's GO pledge and is payable from ad valorem property taxes that can be levied against all taxable property in the city without limit as to rate or amount. The 2015B bonds are additionally secured by special assessments and net revenues of the city's water, storm sewer, and sewer utilities and the 2013A bonds by tax abatement revenues, though we rate both series of
